South African Inflation Exceeds Target Range for First Time in Three Years

(Bloomberg) -- South African inflation accelerated to
an annual 6.3 percent in April, exceeding the central bank's
target range for the first time in more than three years, adding
to pressure on the central bank to raise interest rates.

The CPIX inflation rate, which excludes mortgage costs, rose
from 5.5 percent in March, Pretoria-based Statistics South Africa
said today. Inflation was expected to accelerate to 5.9 percent,
according to the median estimate of 21 economists surveyed by
Bloomberg. Prices rose 1.2 percent in the month.


Read more at Bloomberg Emerging Markets News